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Are You Saving Too Much Money? |
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For years I had a terrible habit of saving too much money. I was diligent about putting it away at the beginning of each paycheck. However, I would almost always have to tap those savings before the next payday. Not only was this counter productive, it was depressing.
Admitting defeat, I finally decided to reduce the amount of money I put into savings by 50%. It worked! My savings account started to grow at a steady rate,
as I no longer had to "raid" it to pay my bills. Watching a savings account grow gives you a similar thrill to watching the number on your bathroom scale decrease.
The ability to be able to put money into savings on a regular basis gave me a feeling of being in control. There is a confidence that comes with a decent sized savings account.
The moral of the story: By saving less, I actually saved more.
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